Member Info for Urraca

Yes I agree, we need news asap. It's overdue.

The trades were from Friday.

And I think BP are buying into the Zohr giant field. I'm not too sure that SD would be big enough to interest BP, as I thnk they are focussing on very large fields at the mo. Could be wrong.

If, and its a big if, we get BPs share of GUPCO, that will take us over the 30k boepd which was PW's target, and which he reckoned would value SDX at $1bn, or around £3.50. But, I have no idea what the state's cut from GUPCO is, so it's extremely difficult to value. Also, a large part of the potential value of SD has yet to be determined. So, if this is on the cards, maybe its taking so long because huge teams of analysts are trying to do just this, and I feel a sense of futility in trying to secnd guess them. If the deal goes ahead, I am optimistic that it means good news for shareholders though.

Thanks ad2017. Had problems with twitter a few weeks ago, must be my computer.

Back to ALGW. Are the trades at 2.099 buys?

Mneyam and twitter are both down on my computer. Anyone else having Probs? Or have I got something nasty on my computer?

I would prefer debt rather than dilution, if the dilution were to happen anywhere around pre-suspension price. That significantly undervalued the comany, even without the deal, and would be a travesty if it as the benchmark to raise capital now.

Just my twopennorth.

Great posts Southmead, thanks.

Seems to be hanging around near the docks still, where it's been for the last while. Not moving to drill location yet.

I would love Southmead to be right. My own hope is a bit more mdest. The last investor presentation assessed risked NAV at £1.48. Add on the impact of the deal, maybe £4.40. Then adjust for the SDX market discount. £2.20. Would be great, and seems achievable. With a good backing wind.

Excellent post Southmead. BP are looking to divest signifcant mature assets to rebalance their portfolio. I've read their strategy, which is available on-line. As with Serica, they seem to be happy to offload to small comanies which have a record of successful acquisition. SDX's success with Circle is I think critical in demonstrating that they can do this. Offloading responsibly seems to be BP's top criteria, maybe after Macondo, their reputation is key. They don't want to be Phillip Green off-loading BHS. So, although the proof will be in the pudding, I think an excellent deal for SDX and SDX shareholders. Time will tell. We're locked in anyway. But probably worth resisting the temptation to just sell out on relisting.

Very interesting stuff guys. South Ramadan is overdue now, although not yet by a worrying length of time. And Cosmoss, yes if I could buy SDX now, at 59p, I'd be very tempted to go all in. Tried to bed and isa the sdx shares I have in my trading account, most luckily are already in my isa. It was not possible as they are suspended.

Nice to see the sp climbing nicely this morning. On pretty thin volume too. Bodes well for when the drillbit starts turning.

Jag. On 1,2,&3 i don't have a clue. Sooner rather than later though I hope. I see the bloomberg news item seemed to appear 5 minutes after suspension.

The admission doc mentioned in the suspension RNS is the prospectus. I wrongly assumed it meant a placing. Having read the AIM code on reverse takeovers, and looked at what happened at SQZ, I can see i jumped to the wrong conclusions. There might be a placing, but its by no means certain.

Even so, providing the deal goes ahead, this lifts SDX firmly out of minnow status.

Thanks Southmead

Hi Southmead. Do you mind me askng, where did you see that news from back in March? Cheers

Sorry Bell, I didn't spot that you'd included HUR on your list. I wouldn't include that among the sort of dregs like FRR, 88E and UKOG.

I've been in here since May, and I freely admit I traded it at the start to get my average down, and have in only a relatively small amount of capital. And on that basis I'm happy to run it, and see where it can get to.

What is the thing upon which you wait, Graybird?

Not sure what ALBA did, and SXX was some weird mineral I think, but all the rest were/are chancer wildcat oil Companies, bell-rj. ALGW is in a completely different market space. Sure there's risk involved, but it's a very different sort of risk. I'm going to hold and see what happens myself, but to each his own. Good luck with your investments, whatever they are. None of those you listed I hope.

Shakey, off the top of my head I am guessing that BP can book repayment of load upfront, while reducing carry costs on the balance sheet. It's an accounting trick, a bit like share buybacks, which make performance metrics per share appear to improve, just by reducing the number of shares, rather than improving the underlying business. They're all at it these days. Financial engineering is where the mney's at, not real engineering.